Economics Unit Three

[Pages:314]Economics Unit Three

Macroeconomics

Thursday, February 8th

? Good morning/afternoon! ? As you come in, please:

? Sit in your new assigned seat (based on Unit 2 test results) ? Front table ? pick up your:

? Unit 3 Objectives/Summary ? Unit 3 ? Day 1 Expedition Econ on Learning

Standard SSEMA1

Class Updates

? Unit 2 Test scores are in Synergy! ? Congratulations to everyone who did GREAT!

? It's time to update your families ? Today you'll receive a detailed Progress Report

that shows all our assignments, your scores and you can see if there are any ways to improve your grade ? You need to share this with your family, have them sign it (and you, too) and return it by next Wednesday, February 14th for 25 bonus points!

Another Way to Help Your Grade

Tomorrow we're invited to attend the Black History Month program.

? For those of you who score a 75 or higher on your Unit 2 test, this seems like a great reward for your hard work!

? For those of you who scored a 74 or lower, I'm willing to help you by giving you a choice: ? You can go to the Black History Month program Or ? During class time, complete test corrections to earn half your points back and get help with concepts you don't understand

? Either way, I'll need to sign a note stating which decision you've made.

Today's Learning Standard

SSEMA1 Illustrate the means by which economic activity is measured. a. Identify and describe the macroeconomic goals of

steady economic growth, stable prices, and full employment. b. Define Gross Domestic Product (GDP) as the sum of Consumer Spending, Investment, Government Spending, and Net Exports (output expenditure model).

c. Define unemployment rate, Consumer Price Index (CPI), inflation, real GDP, aggregate supply and aggregate demand and explain how each is used to evaluate the macroeconomic goals from SSEMA1a.

d. Give examples of who benefits and who loses from unanticipated inflation.

e. Identify seasonal, structural, cyclical, and frictional unemployment. f. Define the stages of the business cycle, including: peak, contraction,

trough, recovery/expansion as well as recession and depression.

What do you think would be good goals for our economy?

Moving from Micro to Macro



Macroeconomics

Macroeconomics is the study of the behavior of the economy as a whole. It concerns the business cycles that lead to unemployment and inflation, as well as the longerterm trends in output and living standards.

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